In the absence of fraud in the transaction, the judgment of the board or the shareholders as to the value of the consideration received for shares is conclusive.
AS 10.06.340
Judgment of board or shareholders as to value of consideration
Known as the Alaska Corporations Code
The act spans §§ 10–10 (251 sections).
Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.